Today's post will be on AUDUSD & USDJPY!
AUDUSD
This pair has been rallying for the past week or so, forming a bullish trend line. While the pair has corrected itself on 23 Dec, it is supported by the 38.2 Fibonacci retracement level along, and is now cruising along the trendline. With the 20SMA just about to cross the 50SMA on the H4 charts, I would give say that it is a good time to long this currency pair when the market resumes operations.
USDJPY
I believe that this pair has been on the 4th wave of the Elliot Wave, and is resuming its rally on the fifth leg of the wave. I believe that this pair will continue its rally to 105.72 before correcting itself.
No comments:
Post a Comment